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  4. Cabinet approves Rs 3,500 crore sugar export subsidy. See full list of decisions

Cabinet approves Rs 3,500 crore sugar export subsidy. See full list of decisions

​The Union Cabinet on Wednesday approved a subsidy of Rs 3,500 crore to sugar mills for the export of 60 lakh tonnes of sweetener during the ongoing marketing year 2020-21 as part of its efforts to help them clear outstanding dues to sugarcane farmers.

India TV News Desk Edited by: India TV News Desk New Delhi Updated on: December 16, 2020 16:09 IST
Cabinet approves Rs 3,500 crore sugar export subsidy. See
Image Source : INDIA TV

Cabinet approves Rs 3,500 crore sugar export subsidy. See full list of decisions

The Union Cabinet on Wednesday approved a subsidy of Rs 3,500 crore to sugar mills for the export of 60 lakh tonnes of sweetener during the ongoing marketing year 2020-21 as part of its efforts to help them clear outstanding dues to sugarcane farmers. "Cabinet has taken the decision to help farmers directly by depositing money of subsidy into their accounts. The subsidy will be given on 60 lakh tonnes of sugar exports at the rate of Rs 6,000 per tonne," Union minister Prakash Javadekar said at a briefing today. 

"It will help 5 crore farmers and 5 lakh workers in various sugar mills. Farmers will get 3 credits - within one week farmers will get Rs 5,361 crore, Rs 18,000 crore of export running to be credited to their accounts to the extent of their dues, and Rs 3,500 crore, the subsidy decided today," he said. 

OTHER CABINET DECISIONS

  • Cabinet has given its nod to auction of spectrum in 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz frequency bands, for validity period of 20 yrs. A total of 2251.25 MHz is being offered with total valuation of Rs. 3,92,332.70 crores. The notice inviting application to be issued this month itself and by March 2021 we propose to hold the auction of these spectrums, Union Minister Ravi Shankar Prasad said. 
  • The Cabinet Committee on Security also gave its approval for National Security Directive on Telecommunication Sector. Under this, in order to maintain integrity of supply chain security, Govt will declare a list of trusted sources/products for benefit of telecom service providers.
  • CCEA approves revised cost estimate of North Eastern Region Power System Improvement Project for six States for strengthening of the Intra-State Transmission and Distribution Systems. Implementation of this scheme will create a reliable power grid and improve NER States' connectivity to the upcoming load centers, and thus extend the benefits of grid-connected power to all categories of consumers in North Eastern Region.

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